BRAZILIAN STEELMAKERS PLAN TO INCREASE REBAR PRICES BY UP TO 8%

Brazilian steelmakers plan to increase rebar prices by up to 8% sometime between May and June, market sources said last week.

Platts assessed domestic 10 mm rebar for May at Real 1,600/mt ($465.30/mt) on Friday, unchanged month on month, based on a range of Real 1,550-1,650/mt ex-works, excluding taxes.

According to a producer source, the industry has reached its limit. "Prices were already very close to the breakeven point," he said.

Since the beginning of March, the steelmaking industry has been pressured by the currency exchange of the real against the US dollar and by an increase in international prices.